Elliott Management raises stake in BHP to 5%

Hedge fund Elliott Management has raised its stake in BHP Billiton to 5%, stepping up a campaign to make the top global miner quit all or part of its petroleum business, boost returns and ditch its dual listing. New York-based Elliott launched its effort in April, at which point it held a 4.1% "economic interest" in BHP's UK-listed shares, and later increased that to 4.5%.